Navigation Links
CVS/pharmacy Announces Agreements With U.S. Drug Enforcement Administration and U.S. Attorneys' Offices
Date:10/14/2010

WOONSOCKET, R.I., Oct. 14 /PRNewswire-FirstCall/ -- CVS/pharmacy today announced agreements with the U.S. Drug Enforcement Administration (DEA) and the U.S. Attorneys' Offices for the Central District of California and the District of Nevada to settle allegations that in 2007 and 2008 certain CVS/pharmacy stores in California and Nevada engaged in unlawful sales of pseudoephedrine (PSE), an ingredient found in popular over-the-counter cold and cough medicines.

(Logo: http://photos.prnewswire.com/prnh/20100816/NE50800LOGO)

(Logo: http://www.newscom.com/cgi-bin/prnh/20100816/NE50800LOGO)

Pursuant to a non-prosecution agreement and civil settlement, CVS/pharmacy has agreed to pay the government $75 million in civil penalties and $2.6 million in profit forfeitures and to maintain certain compliance measures to monitor and prevent excessive sales of PSE. The settlement, which also acknowledges that a distribution center in California failed to monitor and report excessive PSE sales by CVS/pharmacy stores, relates only to the retail pharmacy business.

The settlement relates to excessive sales of PSE at certain CVS/pharmacy locations that resulted from the flawed implementation of an electronic monitoring system to record individual PSE sales.  As implemented in California, Nevada and certain other states, the system did not prevent multiple sales of PSE that totaled more than the federal daily legal limit, which made certain CVS/pharmacy stores vulnerable to criminals who intended to purchase large amounts of PSE.  The excessive sales occurred primarily in California and Nevada.  The settlement includes not only federal jurisdictions in California and Nevada, but also federal jurisdictions in twenty-three other states where the system was not implemented properly.

The settlement does not impact any other business conducted by CVS Caremark or any of its affiliated companies.  In addition, the settlement amount has been fully reserved, as previously disclosed, and should have no further effect on the company's financial results.

"We are announcing today that we have resolved this issue, which unfortunately resulted from a breakdown in CVS/pharmacy's normally high management and oversight standards," said Thomas M. Ryan, Chairman and CEO, CVS Caremark.  "While this lapse occurred in 2007 and 2008 and has been addressed, it was an unacceptable breach of the company's policies and was totally inconsistent with our values.  CVS/pharmacy is unwavering in its support of the measures taken by the federal government and the states to prevent drug abuse.

"To make certain this kind of lapse never takes place again," Ryan continued, "we have strengthened our internal controls and compliance measures and made substantial investments to improve our handling and monitoring of PSE by implementing enhanced technology and making other improvements in our stores and distribution centers."

Ryan concluded, "CVS/pharmacy will continue to cooperate fully with the DEA and other law enforcement agencies in their efforts to keep PSE out of the wrong hands."

About CVS/pharmacyCVS/pharmacy, the retail division of CVS Caremark Corporation (NYSE: CVS), is America's leading retail pharmacy with more than 7,100 CVS/pharmacy and Longs Drug stores.  CVS/pharmacy is committed to improving the lives of those we serve by making innovative and high-quality health and pharmacy services safe, affordable and easy to access, both in its stores and online at CVS.com.  General information about CVS/pharmacy and CVS Caremark is available at http://info.cvscaremark.com.Media Contact:Investor Contact:Eileen Howard Dunn

Nancy ChristalSenior Vice President

Senior Vice PresidentCorporate Communications

Investor Relations(401) 770-4561

(914) 722-4704
'/>"/>

SOURCE CVS/pharmacy
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. CVS/pharmacy Offers Flu Vaccinations in Over 4,000 Stores
2. CVS/pharmacys Transportation Operations Receives Two National Safety Awards
3. Glamour Magazine Woman of the Year and MISSION Skincare Co-Founder, Serena Williams, Teams Up with CVS/pharmacy to Launch National Active Lifestyle Skincare Destinations
4. CVS/pharmacy to Provide H1N1 Vaccinations in Massachusetts, Virginia and Orange County, California
5. CVS/pharmacy and MinuteClinic to Provide H1N1 Vaccinations Coast to Coast
6. CVS/pharmacy to Provide H1N1 Vaccinations in Rhode Island by End of Week
7. CVS/pharmacy and the New York State Fraternal Order of Police Help Families in Port Jervis Have a Merry and Memorable Holiday Season
8. CVS/pharmacy and MinuteClinic Providing H1N1 Vaccines in 20 States and Washington, D.C.
9. CVS/pharmacy Enters Omaha Market
10. CVS/pharmacy and Boundless Playgrounds Join the Pepsi Refresh Challenge to Support Children of All Abilities
11. ALS Research Gets a $4.1 Million Boost from CVS/pharmacy Fundraising Campaign
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... Roche (SIX: RO, ROG; OTCQX: RHHBY) announced that it ... (procalcitonin) assay as a dedicated testing solution for people ... Roche is the first IVD company in the U.S ... assessment and management. PCT is a sepsis-specific ... blood can aid clinicians in assessing the risk of ...
(Date:6/23/2016)... , June 23, 2016 Research and ... News Issue 52" report to their offering. ... influenza treatment creates a favourable commercial environment for MedImmune to ... patient base that will serve to drive considerable growth for ... would serve to cap sales considerably, but development is still ...
(Date:6/23/2016)... RIDGE, Ill. and INDIANAPOLIS ... of students receiving a Lilly Diabetes Tomorrow,s Leaders Scholarship ... The 2016 scholarship winners, announced today online at ... to let type 1 diabetes stand in the way ... Diabetes has supported the Foundation,s scholarship program since 2012, ...
Breaking Medicine Technology:
(Date:6/24/2016)... ... June 24, 2016 , ... People across the U.S. are ... Code Talker Award, an essay contest in which patients and their families pay tribute ... presented at the 2016 National Society of Genetic Counselors (NSGC) Annual Education Conference (AEC) ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Haute Beauty ... Barry M. Weintraub as a prominent plastic surgeon and the network’s newest partner. ... and the most handsome men, look naturally attractive. Plastic surgery should be invisible.” ...
(Date:6/24/2016)... ... June 24, 2016 , ... Strategic Capital Partners, LLC (SCP) ... obtaining investment capital for emerging technology companies. SCP has delivered investment events ... in more than a million dollars of capital investment for five companies. ...
(Date:6/24/2016)... ... June 24, 2016 , ... Venture Construction Group (VCG) ... held on June 20th at the Woodmont Country Club at 1201 Rockville Pike, ... organization dedicated to helping service members that have been wounded in battle and their ...
(Date:6/24/2016)... Gilbert, Arizona (PRWEB) , ... June 24, 2016 ... ... Gilbert-based practice, is supporting the upcoming 2016 Miss Arizona pageant as its official ... primarily serves Scottsdale, Tempe, Mesa, and Chandler, Arizona. , Dr. Olson says ...
Breaking Medicine News(10 mins):